SOURCE: American Green, Inc.

American Green, Inc.

June 29, 2015 08:00 ET

American Green Executes Acquisition Agreement With TrackX -- a Global Leader in Cloud-Based Physical Asset Management

TEMPE, AZ--(Marketwired - Jun 29, 2015) - American Green, Inc. (OTC PINK: ERBB) is very pleased to announce today that it has executed an acquisition agreement with TrackX, LLC (www.TrackX.com). TrackX, a Denver-based company, is one of the country's leading providers of complete Radio Frequency Identification (RFID) tracking and cloud-based physical asset management systems. TrackX owns and maintains process patents and services designed to cater to numerous nationally recognized customers. American Green believes that TrackX is positioned to be the premiere RFID-enabled asset tracking and supply chain solutions provider globally. Currently available market data shows that in 2014, the world RFID market was worth $8.89 billion, up from $7.77 billion in 2013 and $6.96 billion in 2012. This includes tags, readers, and software/services for RFID cards, labels, fobs, and all other form factors. TrackX is well positioned to be the next-generation platform for the "Internet of Things" that is projected to generate $14.4 trillion in value by 2022.

TrackX services many recognizable brands (please see their website), including Fortune 100 companies, with their unique and proprietary software applications. This investment will allow American Green to utilize state-of-the-art tracking technology in all States offering (or planning to offer) a legal cannabis program with a well-established seed-to-sale tracking platform.

"Our decade-long background in technology and our unique position in this emerging sector made this opportunity ideal for our company," says Stephen Shearin, American Green president. "We are eager to assist TrackX in maximizing how it serves its impressive client list; help them deliver the business in their equally impressive pipeline and develop new business, aided by our extensive tracking candidates our company has already developed in this sector. The opportunities are endless in tracking and efficiency which is why our team spent more than 3 months pursuing and negotiating this critical acquisition," concludes Shearin.

"We worked for years to develop and service a strong client list and the technology that enables us to offer our unique customers cutting-edge solutions," says TrackX CEO, Tim Harvie. "I believe we have more than succeeded in accomplishing that goal. Now, we are ready to bring what we have created to a larger audience. Working with American Green will allow us to do just that. We are proud of what we have achieved up to this point and are particularly excited about where the union with American Green and our next-generation RFID-enabled asset tracking technology will take us."

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NOTES ABOUT FORWARD-LOOKING STATEMENTS

Except for any historical information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties, including those described in the Company's Securities and Exchange Commission reports and filings. Certain statements contained in this release that are not historical facts constitute forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, and are intended to be covered by the safe harbors created by that Act. Reliance should not be placed on forward-looking statements because they involve unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied. Forward-looking statements may be identified by words such as estimates, anticipates, projects, plans, expects, intends, believes, should and similar expressions and by the context in which they are used. Such statements are based upon current expectations of the Company and speak only as of the date made. The Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date on which they are made.

About American Green, Inc.

In 2009, American Green, Corp., became one of the first publicly-traded technology companies in the world serving the medical cannabis industry beginning with the introduction of the company's proprietary ZaZZZ machine developed to automate, age-verifying dispensing of cannabis-based medicines. Our mission is to remain a leader within the cannabis and industrial/medicinal hemp industry embracing innovation within all seed-to-sale sectors by leveraging our team of professionals, as well as value-added companies and products. American Green is actively involved in activities that span cultivation, manufacturing and extraction, retail, and community outreach. We are challenged by this exploding new industry every day and strive to develop sustainable and responsible businesses that will thrive and endure in our constantly evolving marketplace.

About TrackX

TrackX provides enterprise asset tracking and management solutions that improve the visibility, accuracy, control and utilization of a company's high-value, mission-critical assets. Its cloud-based, auto-ID-enabled solutions combine highly configurable and patented software and implementation services with technology hardware from leading RFID, barcode, GPS and sensor device providers. TrackX offers its browser-based AssetTrack™ solution that tracks IT/electronics assets, returnable shipping assets like pallets and racks, high- value equipment and other assets across many industries, along with its YardTM and Supply Chain Management Suite™ applications that are designed to efficiently manage assets in and across logistics, distribution and transportation environments. All of TrackX's solutions are platform- and hardware-agnostic in order to meet any business or integration requirement. Previously known as Fluensee, TrackX was founded by top executives from the logistics, transportation, technology and asset tracking industries, and is headquartered in Denver's Tech Center. For more information, visit www.TrackX.com.

Contact Information

  • Contact:
    American Green, Inc.
    Investor Relations
    1221 W Warner Rd, Suite 103
    Tempe, AZ 85284
    480-443-1600 X555